Never chase the win or lose because that will cost you more money that you can imagine. We will only need to playing gambling moderately by always limiting our money and time so we will not staying at the casino too long. Many examples that we already see that can be our lesson to avoids the problems.
If you win big, stop playing and if you lose big also stop playing, any time that I begin to feel different than how I was feeling when I started gambling I'll stop as my emotion are beginning to control the way that I'm thinking therefore to avoid making bad decision that I'll regret later, I always stop gambling for the day and resume some other time that I'll be feeling normal and ready to enjoy the game again. Every game is different therefore we should be able to understand that.
A little refinement to your statement, which I agree mostly with the first part, is the fact that you don't have to wait to lose big before stopping. When you run into a situation of playing many hands with no sign of success, it probably shows that you have to stop and try again sometimes. If you want to continue gambling hoping to stop when you lose big, you might not have the money to gamble the next time and even if you manage to have the money for next time, it will be so painful continuing to lose big each gambling round. Waiting to lose big before stopping is not different from chasing losses. So, I think the right thing to do is to stop gambling upon big wins or when there is persistent loses. Those who struggle to chase losses end up incurring more losses, instead of this to happen, the best thing to do is to stop.